🐾 Unleashing OCTA: Who let the dogs out! 🐶
Summary
TLDRThe video discusses the current volatile crypto market, with a focus on Nvidia's earnings and their impact on the tech sector. It covers significant token unlocks, macroeconomic trends, and regulatory challenges, including the SEC's stance on NFTs. Despite negative news, the presenter highlights positive aspects, such as increased long-term holder supply of Bitcoin and the potential of AI and energy storage solutions, emphasizing the need for a balanced perspective in the face of market fluctuations.
Takeaways
- 📈 The cryptocurrency market is experiencing volatility with Bitcoin just under $60k and Ethereum under $2500, reflecting a general market unease.
- 🔓 There have been significant token unlocks for various cryptocurrencies, including a large 16% unlock for Zeta, which could potentially impact market dynamics.
- 📊 Employment in professional and business services in the US is weakening, with year-over-year growth at its lowest in several years, signaling potential economic concerns.
- 🌐 The possibility of a 'carry trade unwind 2.0' could lead to a substantial flow of dollar-denominated assets to China, potentially strengthening the yuan and affecting global financial markets.
- ⚖️ The SEC's classification of NFTs as unregistered securities on OpenSea has been met with criticism, highlighting regulatory challenges within the crypto space.
- 📉 Despite a general market downturn, certain cryptocurrencies like Cardano and Kaspa have shown resilience, while others like Toncoin have faced temporary outages but recovered.
- 💳 US credit card debt is reaching all-time highs, nearing $1.1 trillion, indicating increasing consumer debt levels that could have broader economic implications.
- 📊 The US holds the largest share of global equities, which is unusual and could indicate potential market corrections or shifts in global stock values.
- 📈 Oil prices are rising due to geopolitical conflicts and supply disruptions, which could contribute to inflation given oil's role in various economic sectors.
- 🤖 AI and technology sectors are becoming increasingly important, with Nvidia's earnings being highlighted as a significant market indicator, and Tesla's advancements in autonomous driving showcasing the transformative potential of AI.
- 📊 Long-term holders of Bitcoin continue to accumulate, increasing their supply to over 75% of the total, suggesting a strong belief in Bitcoin's long-term value.
Q & A
What day of the week is the script referring to as 'hump day'?
-The script refers to Wednesday as 'hump day'.
What is the current market cap mentioned in the script?
-The market cap is just under 2.1 trillion.
What is the current price of Bitcoin mentioned in the script?
-Bitcoin's price is just under 60k, around 59,500.
What is the current price of Ethereum (ETH) mentioned in the script?
-Ethereum's price is under 2500.
What is the fear and greed index value mentioned in the script?
-The fear and greed index is back at 30.
What does the script say about the employment situation in the US?
-The script mentions that white-collar employment in the US is weakening, with professional and business service and financial information jobs growing only 0.6% year-over-year in July, the lowest in several years.
What is the 'carry trade unwind 2.0' mentioned in the script?
-The 'carry trade unwind 2.0' refers to the potential for a $1 trillion flow of dollar-denominated asset-backed assets to China if the Fed rate cuts happen fast, which could strengthen the yuan by 5 to 10%.
What is the SEC's stance on NFTs mentioned in the script?
-The SEC has classified NFTs on Open Sea as unregistered securities, which has sparked criticism as NFTs are considered to represent ownership and authenticity of unique items, not securities.
How has the number of buyers on the Solana chain changed according to the script?
-The number of buyers on the Solana chain has increased by 43% for the week, far exceeding all other chains combined.
What is the current state of the credit card debt in the US as per the script?
-The credit card debt in the US is at an all-time high, nearly approaching 1.1 trillion as of August 14th of the current year.
What is the script's mention of the US holding the largest share of global equities?
-The script mentions that the US holds about 65% of all the value of the global equity market, which is typically an anomaly and could indicate potential market correction.
What is the script's take on the future of AI and its impact on various sectors?
-The script suggests that the next two years for AI will be massively transformative, with advancements that are currently hard to imagine, and it will have a significant impact on various sectors.
What is the significance of the $50 billion stock buyback announced by Nvidia as mentioned in the script?
-The $50 billion stock buyback announced by Nvidia is a significant move that reflects the company's confidence in its own stock and could be an attempt to boost shareholder value.
What is the script's view on the Tesla's new Model Y and its AI capabilities?
-The script praises the new Tesla Model Y's AI capabilities, stating that it drives with a precision and accuracy that is better than a human driver, and this is a sign of the rapid advancements in AI technology.
What is the script's perspective on the importance of energy storage and Tesla's role in it?
-The script highlights the importance of energy storage regardless of the source of energy and positions Tesla as a leader in this space, with significant contracts for its Megapack energy storage solutions.
Outlines
📈 Crypto Market Volatility and Unsettling News
The script opens with a discussion of the current state of the cryptocurrency market, highlighting its volatility and the significant unlocks of various tokens, which could impact the market. It also touches on Nvidia's earnings and the broader economic indicators suggesting a weakening labor market in the US, with a specific focus on white-collar jobs. The mention of a potential carry trade unwind and its implications for the Chinese yuan and US dollar assets adds to the market's uncertainty. The SEC's decision to classify NFTs as unregistered securities stirs controversy and concern within the crypto community.
📉 Market Downturns and Regulatory Criticisms
This paragraph delves into the downturn of the crypto market, noting significant drops in the value of various coins and the overall negative sentiment. It discusses the criticism of the SEC's aggressive regulatory approach by Representative Nickel, who argues it undermines trust and transparency. The narrative continues with an analysis of NFT sales across different blockchains, emphasizing the high volume of buyers on the Solana chain. The paragraph concludes with a look at the realized capital flows into Bitcoin, showing a slowdown in inflows and a market driven more by spot transactions rather than leverage.
🛑 Outages, Debt Concerns, and Market Anomalies
The script addresses technical issues in the crypto space, such as the Tron network outage, and its peculiar lack of impact on the value of TRX. It also raises concerns about record high credit card debt in the US and the potential implications for the economy. Furthermore, it discusses the unusual dominance of the US in global equities, suggesting a possible market correction. Geopolitical tensions and their effect on oil prices are also noted, with a warning about the impact on inflation.
😄 Crypto Investor Personality Traits and Market Flows
A controversial study suggesting crypto investors exhibit psychopathy is met with humor and skepticism. The script counters this by listing successful individuals in the crypto space, implying that their success is not indicative of psychopathy. It then shifts to discuss positive money flows into the crypto market, influenced by Jerome Powell's remarks, and details the inflow of funds into various assets, suggesting that despite market fears, there are entities that continue to invest.
📊 Bitcoin's Performance Over Time and Market Analysis
The script provides a historical perspective on Bitcoin's performance, showing that as of August 28th, it is at its highest value compared to previous years. It discusses the increase in long-term holder supply, indicating a strong belief in Bitcoin's future value. A comparison of Bitcoin's performance to other assets over the last 90 days demonstrates its relative stability. The paragraph concludes with an analysis of the current market state, suggesting that the spot market is driving prices and that speculative interest has waned.
🚀 PayPal's Stablecoin Growth and Crypto Adoption
The rapid growth of PayPal's stablecoin on the Solana blockchain is highlighted, with its value breaking the $1 billion mark. The script discusses the potential for this to benefit PayPal's stock and the broader implications for the crypto market. It also touches on the rebranding of MakerDAO to Sky, aiming to address scalability and regulatory challenges in DeFi. The narrative shifts to the stock market's performance, with a focus on the tech sector and Nvidia's earnings, which are seen as a significant indicator for the AI industry.
🔋 Tesla's Energy Storage Expansion and Market Potential
The script concludes with a discussion of Tesla's significant contracts for its Megapack energy storage solutions, particularly in Australia. It emphasizes the potential market value of Tesla's energy storage business and the broader need for energy storage solutions across various energy sources. The paragraph ends with a note on the transformative potential of AI in the coming years and a reminder of the importance of staying informed and adaptable in the market.
Mindmap
Keywords
💡Volatile
💡Nvidia Earnings
💡Fear and Greed Index
💡White Collar Jobs
💡Carry Trade Unwind
💡Non-Fungible Tokens (NFTs)
💡Smart Contract Platforms
💡Stablecoins
💡Meme Coins
💡Artificial Intelligence (AI)
💡Rebranding
Highlights
Market volatility continues with mixed news amid Nvidia earnings and a cryptocurrency market cap just under 2.1 trillion.
Bitcoin's price fluctuates just under 60k, while Ethereum remains under 2500, reflecting the market's cautious sentiment.
Significant token unlocks for various cryptocurrencies, including a massive 16% unlock for Zeta, indicating potential market impact.
US employment in professional and business services and financial information is weakening, signaling potential economic downturn.
Carry trade unwind 2.0 could potentially strengthen the Chinese yuan by 5 to 10%, affecting global financial markets.
SEC classifies NFTs on Open Sea as unregistered securities, facing criticism and highlighting regulatory challenges in the crypto space.
NFT sales remain robust despite market conditions, with Ethereum and Solana leading in sales volume.
The number of buyers on the Solana chain exceeds all other chains combined, indicating strong investor interest.
Crypto market experiences a downturn with many coins down, except for Cardano, Kaspa, and ICP, showing a mixed market response.
Bitcoin ETFs face challenges with a negative day of about $127 million, despite overall positive trends.
Net capital flows into Bitcoin have slowed, with short-term holders primarily selling, while long-term holders accumulate.
US credit card debt reaches an all-time high, reflecting increasing consumer debt and potential economic instability.
US holds the largest share of global equities, raising concerns about potential market correction or increased value of other stock markets.
Oil prices rally due to geopolitical concerns, impacting inflation and the global economy.
Despite negative perceptions, long-term holders of Bitcoin continue to accumulate, increasing their supply to over 75% of the total.
Smart contract platforms show resilience with zero return for the month, outperforming other asset classes.
PayPal's stablecoin on Solana breaks $1 billion, indicating rapid growth and potential monetization opportunities.
Nvidia earnings are considered a significant indicator of market trends, with their AI advancements being transformative for the industry.
Tesla secures significant energy storage contracts, highlighting the growing demand for sustainable energy solutions.
Transcripts
greetings welcome to today's story it's
Wednesday hump day and things are
volatile things are still summary doy
and we just had some Nvidia earnings
I'll talk about that in a second we have
a lot to cover 50 nuggets I'll go real
fast and there is a lot of ugly and bad
news today
but there's also some good news too so
as usual I'll try and be fair and
balanced as we go through thank you
David Webb thank you living like a panda
and Zeno and moderators in the chat and
everybody else let's jump in it is
Wednesday market cap is still under just
under I think 2.1 trillion it's kind of
been here for weeks and weeks uh Bitcoin
just went up $34 for the day and fell
down so it's still that's not bad it's
just under 60k 595 or so and eth is
under 2500 and fear and greed is back at
30 so things are not too good but let's
get into it and this is not Financial
advice and thank you as well to every
and patreon and the team behind me this
is from Vortex Vic I spent all day
waiting for this you guys are the best
of patreon and YouTube thank you so much
love that you're here okay warning ugly
news we'll start with the unlocks as
usual and there's a lot portal big
unlock 4%
torn never heard of torn 2.4% uler 1 in
optimism Prime Manta dydx
sui uh all unlocking like they do but
Zeta has a massive 16% unlock as well as
GMT Ena and Fort so it's just it's the
summer of raining crypto tokens be
careful out there another ugly news this
is a warning to everybody this is a very
very bad sign we're going to get a
little bit of macro stuff out of the way
first White caller unemployment in or
unemploy employment not unemployment is
weakening in the US these are
professional and business service and
financial information finance jobs Etc
it just Rose 0.6% year-over-year in July
that's the lowest in three or four years
and this in other words employment in
these industries has increased by only
about 126,000 jobs over the last 12
months now white collar job growth has
been steadily declining for the last
three years and in the past a drop was
only seen in 2000 to 2001 and in the
2008 Global financial crisis and of
course c19 is a separate issue because
that's an anomaly but the truth is the
labor market is weakening badly and when
these jobs go the people beneath them
tend to go as well so not good news um
that did warn you also the carry trade
there's now talk of a carry trade unwind
2.0 this you can see here the one the
Chinese one has gained against the
dollar as the carry trade unwinds
but the what people are thinking now if
the Fed rate
Cuts happen fast it could trigger a$1
trillion flow of dollar denominated
asset backed assets to
China and what this potentially means is
it would strengthen the wand by 5 to 10%
and this shift driven by declining
appeal of US dollar and US assets could
see the one appreciate significantly
especially if the US achieves a soft
Landing without triggering a recession
this is another scary sign and there's
more the SEC are still at their silly
little games SEC commission is now gone
to class specify non-fungible tokens
nfts on Open Sea as unregistered
Securities and this has sparked a ton of
criticism and there are several reasons
why some people consider this to be a
little bit let's call it misguided or
silly because the nature of nfts is to
represent ownership and proof of
authenticity of unique items such as
digital
art Etc which are not considered
Securities has the monaa ever been
called as security the answer is no and
the argument is that nfts like art
derive value from their uniqueness and
therefore not a
security we shall see but again Gary
gendler still has it in for the crypto
Community we don't like that anyway um a
representative uh I don't know if he's
Democratic or republican or Congressman
or senat anyway I you know I follow of
politics but this is representative Wy
nickel he said the aggressive use of
Regulation by enforcement from the SEC
is a blatant abuse of power that erodes
trust and transparency in our regulatory
system and this heavy-handed approach
creates widespread uncertainty and
threatens to derail progress and
innovation in the area of crypto well
said
representative and speaking of nfts it
doesn't slow them down however
so you can see here this is the top NF
nft sales by Chain over the last week
you can see biggest dollar amount is
ethereum $38 million but remember 8
million that is wash sales so you that's
when people buy and sell their own
things themselves to make it look like
it's a highly sought-after item so be
careful of that salana is number two at
20 million and Bitcoin number three and
polygon number four binance number six
and then other crumbs down the end what
is interesting to see here thank you
Mike 39 what is interesting to see here
is the number of
buyers the number of buyers on the salon
chain far exceed all the other I'm
talking far exceed all the other chains
combined so that's saying something and
it's up 43% for the week so there's
still a lot of activity happening
although the dollar amounts the actual
ticket value of the nfts and the salon
blockchain are a lot cheaper than
ethereum therefore ethereum wins with a
lot less volume but still it's one to
watch nfts are not slowing down now that
was the ugly news let's get into the bad
news the crypto Market over the last
month and I know by the way people are
frustrated everybody I see it in the
comments like oh I'm so bored with
crypto how come I'm not a a millionaire
yet and where's my Lambo and anyway
that's just the nature of markets it's
when things are most depressing and dark
that's the last time you want to leave
the market trust me on that one but here
the crypto Market over the last uh week
not month title's wrong and you can see
ton coin got hit hard down about 20%
binance down hard Sol down about 5% near
dot po everything's down except for
cardano and kaspa and ICP weird mix of
things that were up in terms of dollar
terms you can see here bitcoin's down
4.8% for the week eth down 2.6% for the
week Etc not a perfect week at
all and and roll on September oh it's
rare I look forward to September but
this year I'm looking forward to
September get this out of the way fear
and greed down to 30 you can see the way
it just tanked there again we recovered
we end up from 26 straight back to 60 in
a matter of days and then we're tanking
right back down again because people are
afraid a lot of fear out there and the
Bitcoin ETFs also suck we had a couple
of good days but unfortunately yesterday
was a negative day down about $127
million obviously I bet Black Rock
didn't buy normally when they buy they
turn everything green but for some
reason they were absent yesterday just
like they were absent on the 15th of
August but so far though that being said
we're still up about $380
million uh if I correct no hang on yeah
about 380 so far in the month of August
no 480 not 380 so it's still not too bad
and there are some negative days these
ETFs so don't sweat it too much in terms
of the eth ETF we'll check in on that we
do that once a week the inflows have
stalled so in fact Black Rock hasn't
bought any eth for 5 days but if you
look at all the action that they had on
bitcoin they've been buying a truckload
like the truckload nearly half a billion
dollars in a week so I'm not sure if the
bloom is off the rows as they say for
ethereum and the grayscale ethereum
trust is still bleeding a little bit too
so that's eth and that explains why it's
under 2500 bucks as well probably now
let's look at net capital flows this is
the Bitcoin realized C Net cap position
and unfortunately the net capital flows
into Bitcoin have also slowed
significantly with only a minimal profit
and loss taking and primarily the
short-term holders are the ones that are
selling the
speculators um a substantial portion of
their supply though is turning into
long-term holder status which is good
this is more than 155
days and the speculative interest in the
Perpetual swap Market has also cooled
down a lot too and indicating reduced
leverage and it's much more of a spot
driven market right now we'll share more
data on that in a second also short-term
holder realized price is now fractally
under cost so anybody on average that's
selling Bitcoin here or losing about 3%
of of their asset and more coins with
losses are being realized than coins
with gains and essentially everybody
selling now bought at a higher price
only a little bit higher though 3% so
that's plus or minus like 61k or so
selling at
59k and ton coin by the way pavl was
released a few hours ago in France so
woohoo uh that's good news but ton is
down he's the CEO of the Tron the ton
Foundation the open network but they had
a massive outage yesterday for about
seven or eight hours and outages are
normal in crypto sometimes for some
Chains It's not the end of the world in
fact the ton coin price was up despite
the outage uh it was down 20% for the
week but up over the last 24 hours and
the dages were allegedly caused by an
unusual Network congestion caused by the
airdrop of a thing called dogs which is
a new ton meme coin H to embody the
whole Spirit of telegram or something
like that I don't know and another
interesting thing pump. fun this is one
that Mando talks about quite a lot but
based on Dune analytics pump. fun
averaged of 15,27 launches between 5th
to the 11th of August
this is a big Decline and ending 25th of
August the protocol averaged mere 8,000
daily launches so it looks like this
meme trend is dying off that is a 47%
declined activity in a couple of weeks
or maybe they're trying to launch meme
coins on other
chains like Tron and others thank you DB
F430 that sounds like an aircraft so
things are happening and despite the
outage yesterday they got it back up but
it did stop processing transactions
again today briefly again it didn't
affect the price because it's one of the
things that's going up in this market
right now in the summer it did have a
bad week but good 24 hours despite
outages and that's why it's it's we've
seen this happen many times in other
chains people think if a chain goes down
it's the end of the world often it
doesn't matter the people trading and
mean coins or whatever else are doing
they can wait a few hours before they
come back and do it again anyway let's
talk about other sad news too the credit
card debt in the US is at an all-time
high nearly approaching 1.1
trillion as of August 14th of this year
this is another milestone in the ongoing
trend of rising Consumer Debt and there
are no signs of this thing slowing down
it's like everybody's throwing the
credit card and credit card defaults are
hovering closer to 9% right now as well
so if you are a credit card company and
you have a trillion dollars in debt you
can write 10% of that off pretty much
things are going to get worse before
they get better unless something
radically changes which I don't think it
will and another scary news too and this
is kind of related to the unwind 2.0
carry trade perhaps but you can see here
that the US holds the largest share of
global equities right now about 65% of
all the value of the global Equity
Market is held by the United States so
typically this is an anomaly so either
two things are going to happen or it'll
stay like this or it'll mean revert
which means the other stock markets will
go up in value or more concerningly the
US Stock Market could tank in value so
we got to watch this space carefully
remember a lot of people as well get
very fearful if a market tanks but
remember if an index tanks it doesn't
mean all assets go down or all get
hammered sometimes it does during a
global financial crisis or something but
this is also one to watch and oil is up
oil loves conflicts crude oil prices
have rallied about nearly 7 to 8% in the
last 3 days on geopolitical concerns
conflict in the Middle East and Libya
Supply disruptions Etc and this is
impacting the price of oil
so this is heading it towards $78 maybe
back to $90 in a couple of weeks or
months and guess what that will do yes
40% of inflation is triggered by oil
because oil is used in everything so for
those people that think they can control
inflation they can't and don't forget
every video is turned into a recap by a
team behind me big thank you to them as
well if you want podcast or all the
slides whatever that's where you get it
now good news at
last after all that ugly bad news this
one is funny okay this is this's a guy
called Steve hanky he's you
know he just hates on bitcoin and he
hates on crypto so he is a little bit
bitter so take take that with the glass
of soul but he says he's so happy to
share he's just excited loves his little
shot in frea crypto owners are
psychopaths and this from the University
of Toronto researchers found that c
cryto holders display lower levels of
analytic and scientific thinking and are
likelier to exhibit psychopathy than the
general more psychopathy than the
general population thank you Kamar
creationss and Andy the Australians are
in the house so I can say this for a
fact I am extremely analytical
okay he said they display lower levels
of analytical and scientific thinking
so whoever in University are trying to
put the study together that you know
Steve Hank is dancing on the grave of
crypto people being
Psychopaths I put this little chart
together okay I'm fine being a member of
this club with all of these literally
very
successful Capital allocators
investors entrepreneurs Etc you got the
Michael Sailors and you got the vitalics
you got the Brian Armstrongs and the
Kathy woods and the Shams and of course
Satoshi nakoa Peter the mark andreon of
course the fster Larry
thinkink
and I forget the name of the other guy
anyway almost had it perfect I should I
should have notes anyway it's okay to be
in the company of these people oh I forg
that's what happened that should be Elon
Musk by there where that guy is I got
remember and I forgot to put the image
in the Box anywh who again watch what
the smart people
do not the others okay so if people like
Steve hanky in the University of Toronto
are calling people that like crypto
Psychopaths I'm sure there's a couple
there's definitely a few sociopaths
running some chains but when you think
talk about things like Bitcoin no very
smart people into Bitcoin so don't be
worried Also let's look at the money
flows we had a positive week last week
inflows totaling $533 million marking
the largest inflow in nearly 6 weeks and
The Surge followed remarks by Jerome
Powell at the Jackson hle Symposium
woohoo let's look at the breakout
ethereum saw uh a little bit of a dump
here 34 35.7 million out again the
drainage continues um gray scale of
course and everything else is kind of
flat bigcoin up 543 multi-asset 20
salana only 100 Grand Litecoin 500,000
xrp 300,000 short Bitcoin 1.7 when that
thing goes up bitcoin price sometimes
goes down cardano 300,000 and that is
the buy asset activity out there now
while everybody is afraid I know people
say Oh Mr 100 with this and that
whatever it doesn't matter anyway
whoever they are whoever they're
stacking on behalf of they DCA very very
well they did move at 70,000 a portion
of their bag to another wallet it wasn't
sold but they've been constantly
snacking on bitcoin especially every
time it falls under
60,000 they don't touch it at 64 or 65
or 63 or 62 but when it goes to 58 or 59
they buy and they bought over 500
Bitcoin in the last 24 hours they have a
kind like
a a limit order in place 100 Bitcoin at
a time and they keep on snacking and now
this is also interesting to show us
where we
are thinking for some positivity for all
you out there this is the price of
Bitcoin on August every day for the last
14 years it's funny 14 28th of August 28
divided by 2 is 14 so there's that but
check this out Bitcoin is at its highest
level on this day 28th of August 2024
than it has ever been okay not too bad
2021 was a 48,900 now it's 59,00 so
nearly $10,000 higher so all is not lost
everybody don't lose faith and the trend
you can see is very clearly up to the
right what will it be next year I don't
know this time next year it could be
back at 60,000 or it could be north of
100,000 we shall see and we'll be here
every day to report on exactly that also
long-term holders and this is kind of
like in line with this other fellow
some people just keep on snagging the
stuff this from crypto Quant in the past
30 days long-term holder Supply
increased by
262,000 Bitcoin they now control 14.82%
Bitcoin which accounts for over 75% of
the total Supply these long-term holder
wallets are ones that tend not to sell
they hold long term so if you wanted to
come in with say half a trillion dollars
and try Buy half the Bitcoin Supply it's
physically impossible so that's just
interesting fact and regarding All
Season Bitcoin wins again it's down to
18 last week was 22 so Bitcoin Remains
the actual winner out there right now
today let's see how it compares to the
rest you see the very top left is Tron
crushing it for the week you got a as
well doing very well kaspa even xrp is
there from some court case dismiss
and Bitcoin despite despite it being
this by the over the last 90 days
despite Bitcoin being down 15% over the
last 90 days it's still not too bad you
got excam as well down 15% SL all down
16% Etc and other stuff to the right so
Bitcoin is holding up very well compared
to most assets but remember you can
always pick a point in time where one
asset is bigger than the other but this
is interesting of course the 28th of
August and I did mentioned at the
beginning that the spot is in control we
now have neutral funding rates and it
can be absorbed across the whole of the
digital asset ecosystem it's a bit of an
ey chart but trust me all the top
cryptos are here on the list and you can
see they are all displaying a neutral
funding rate and this underscores the
idea that a major reset in speculative
interest has occurred across the entire
market and therefore spot markets are
likely to the major driver in the seat
for the near term good news speculators
are gone compared to normal and now will
the spot people return maybe will they
sell their meme coins and go back into
hard proper assets we don't know we
shall see also um smart contract
platforms win the month they have zero
return for the last month but that's a
lot better than everything else that was
negative ethereum down 24.5% for the
last month Bitcoin down 12.1% and the
second best category after smart
contract platforms was dpin and then
exchange tokens etc etc exchange tokens
be things like binance Etc so all in all
it has not been a good month but ler
ones have done okay out there especially
with ton and Tron all the ons doing
pretty good also speaking of salana uh
this is the PayPal stable coin and it
just broke a billion dollars the green
is the amount on salana the purple is
the amount on ethereum the ethereum
share of stable coin has fallen and it's
growing up the the the important thing
is the rate of change I want you all to
look at look at that chart it is going
vertical real
fast doesn't take long to get to a
billion then it will take even less time
to get to two billion and then on and on
so watch the space carefully um
interesting to see how PayPal monetized
this because I know having a stable coin
is extremely lucrative so it could be
good for the PayPal stock too um and
helium which is a deepin project on
salana they just launched decentralized
wireless networks in Puerto Rico woohoo
say hi to every in Puerto Rico like Rob
and others out there it's a big crypto
hot bed too and Robin Hood Believe It or
Not re adds salana to their Wallet not
to their exchange I think they have it
in Europe can't verify that for myself
but uh they haven't listed it as a token
you can buy right now in the US on the
Robin Hood platform but you can self
custody Salon tokens and send and
receive over the salana blockchain so
it's great that they reactivated that
and that tells me they're getting ready
to list salana again and tell the SEC to
go pound sand perhaps we'll see let's
check check in on narratives narratives
are very important to monitor to find
exactly what people are thinking where
people are investing Etc these are the
top Q2 not Q3 Q2 narratives meme coins
were the top narrative real world assets
number two AI number three h salon
mcoins number four Salon ecosystem
number five base six base meme coin 7
then layer On's dpin gaming brc2 layer 2
Etc ethereum ecosystem down at the very
bottom with
cats it's uh very bizarre so the
question is what will the narrative be
for Q3 that's where you want to be and
we'll see is it going to be rwi is rwa
is going to be dpin or is it going to be
AI we'll see we'll talk a bit about AI
in a second too also how do you turn an
old thing into a new thing you change
the name maker Dow which is the one of
the
OG players in
defi they decided to Rebrand themselves
a sky defi Sky I get it I didn't mean
for that to rhyme introducing usds on
Sky tokens as part of its strategic
transformation and rebranding aligns the
sky endgame plan to address both
scalability and Regulatory challenges in
Defi and the defi Community reaction is
mixed with some concerns about maker
dials decentralized
ethos the ogs don't like it but that's
how you take off an old coin and give it
a new name who knows maybe some others
will do this tooo we've seen a little
bit of rebranding across some different
chains like madic as well I forget what
they're called but they Chang their name
too or they're going to change it we'll
see anyway uh let's look at the stock
market over the last seven days and we
get into some AI stuff Tech down pretty
much across the board Tesla down 7%
Amazon 5% Google 2% meta 3% Microsoft 3%
Nvidia 1.44%
but you can see the financials and the
pharmas and the energy and even the real
estate companies are all kind of in the
green which is
unusual unusual see everything moves now
Nvidia earnings that's most interesting
this from Muhammad L Arion he says that
Nvidia earnings are now as important as
a US jobs report well you know
why AI matters and the jobs reports are
complete lies so so yeah that makes
complete sense let's look at the Nvidia
earnings they did post right now I was
actually delaying this video so I could
check out the earnings myself and make a
post on it right now Invidia is trading
at 120 bucks so it did take a little bit
of a dip the earnings did beat they came
in 68 cents versus 64 expected Revenue
was 30 billion versus 28.7 billion
expected but nothing like the beats that
they had in the
past uh guidance 32 and a half billion
is up but again
as I say as as things get higher and
higher they begin to slow down nothing
can go up forever they did also announce
a massive $50 billion buyback $50
billion in stock and Blackwell is coming
in Q4 and the stock is down right now
it's down
$561 but it was down as low as
$9 now this is one of the reasons why we
rotate from certain assets if you have
an asset that goes up say
1,000% it's not going to do another
1,000% the market cap won't go from 500
billion to 3 trillion and then double
again to 6 trillion there simply isn't
enough money in the world for that to
happen at this stage in a short wind of
time that's why you need to think about
rotations that being said our friend of
the channel Tom Lee believes Nvidia is
not expensive he was on cnbs
and he said it is trading only at 28
times forward earnings and he believes
the two one of the two tech places he
likes he believes it's very good to be
in both AI also him and his partner Mark
believe Nvidia and Tesla are the top two
names to be in but you can see one of
them is running out of steam after a
rampage like we've never seen before and
that's normal the other name however
this is just a little piece on Tesla by
the way I drove the new uh model y
Hardware
4 15 or version
12.5.1 point5 whatever the the latest
one it was embarrassing because this car
literally now drives better than me and
I consider myself a very good driver I
sat back and watched this thing do a
thing the Precision and the accuracy is
mind-blowing and I'm not the only one
saying that too just check check Twitter
watch the videos yourself
nobody realized what's coming and the
next two years for AI will be massively
transformative where are your seat belts
there are things coming you can't even
imagine right now it's going to be
Bonkers anyway back to just Tesla this
is a cool little piece from Sawyer Merit
and the EV guy but Tesla has secured
$133 million mega mega pack contracts to
double Queensland shout out to all the
Australians and the audience at it's
already Australia's biggest battery and
after the expansion the total size of
this commercial energy battery storage
will be between 550 megawatts and 1,80
megawatt hours and just in the last year
Tesla has secured $3 billion worth of
mega pack orders from Australia alone a
country that only makes up 0.3% of the
global population but they're very vocal
and they're very powerful and they're
very good at everything but that $3
billion figure or just the ERS we know
about this energy storage mega pack
business is huge I said conservatively
the MEAP pack business alone should be
worth a trillion dollars today and it's
not you buy the whole company for half
of that and that excludes all the other
good value to doing so that's why I
remain very very bullish shout out to
the
Australians the world needs more energy
and the world needs to store it whether
you are getting your energy from flare
gas or nuclear energy or the Sun or the
wind or the waves or the waterfalls you
need to store it so watch this space
it's going to be fun and thank you all
for coming hope you enjoyed the show big
sh thank you once again to the
moderators in the chat and something
must have happened on the Nvidia
earnings call because it's Fallen but
Bitcoin is back to break even for the
last 24 hours so that's not too bad
thank you Sean Donley thank you TD Tesla
K8 and everybody here on the team and DB
for all coming
F430 that might actually be a Ferrari I
need to check that thanks all have a
good night
[Music]
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